OIL FIRMS RAISE JET FUEL PRICES BY RS 158/KL

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Breaking the string of reductions, public sector oil firms have raised jet fuel, or ATF, prices marginally by Rs 158 per kilolitre on an average. Jet fuel will cost Rs 27,275 per kl in Delhi from midnight against Rs 27,106 per kl, an Indian Oil Corporation official said. Prior to this, the public sector oil firms had reduced jet fuel prices 11 times since September last year. The oil firms had raised jet fuel prices by 3.3% only once on January 16. In Mumbai, home to the nation’s busiest airport, jet fuel rates were raised to Rs 28,023 per kl from Rs 27,861 per kl. The increase in jet fuel prices varied from airport to airport depending on local taxes and levies and an on average worked out to be Rs 158 per kl. Jet fuel prices had peaked to Rs 71,028.26 per kl (in Delhi) in August on international crude prices touching historic high of $147 a barrel. But they have since been slashed every month till October and twice in November but even after the latest price rise, jet fuel is still lower than diesel rates.

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